Insha Company launches major new construction project

Dr. Ali Mujawar has inaugurated a project costing $100 million last Wednesday as a joint venture between the General Authority for Development and Investment (GADI) and the Insha Company for Development and Construction, an affiliate of Ben Hem Group. 

The real estate project will be in Dhhar Himiar in Sana’a and will involve building 8 residential towers on an area of 26,000 meters for each tower. They will contain 960 residential units costing $100 million. Service facilities of restaurants, a health club and playing fields will also be established in these complexes.

GADI manager, Salah al-Atar, said that their contribution towards the project which ends in 2011 amounts to 40 percent, ensuring that it will increase Yemen's competence in tourism development and attraction, adding that the project is a partnership between the Gulf private sector and the Yemeni government.  

Al-Atar said that the project will be a basis for cooperation for several Yemeni-Gulf projects. Al-Atar lauded in his speech at the press conference the contributions of Gulf firms and their support to the Yemeni economy through their commitments at the donors' conference in 2006.     

Sultan al-Minhali, the Insha company manager, said that the project will start after Ramadan. Engineer Ahmed Abu Shadi, the Middle East and Arab Gulf manager said that there are arrangements for other residential and tourist projects on the Yemeni coasts and islands due to their uniquely attractive locations in addition to the facilities provided by the Yemeni government. 

The General Authority for Real Estate and Investment and Bin Hem Group have signed last April a partnership and development agreement for the Sana'a real estate project costing $100 million in Jabal Noqom, which is at 7700 feet above sea level.

Related Content

•  Tribesmen abduct SJC head's brother
•  7 people arrested for possession of weapons
•  Al Qaeda member arrested
•  70 Ethiopians arrested in Yemen
•  Five killed, three wounded in floods
•  Eritrean pirates hijack 4 Yemeni fishing boats
•  Eritrean pirates capture 6 Yemeni fishing boats
•  Diesel smuggler seized in Hadramout
•  Documentaries enhance youths’ voice
•  Two and half tons of corrupt goods spoiled, municipality director of Addalea